Mentoring international founders on U.S. expansion through an NYCEDC initiative operated in partnership with SOSA
Written by: Akshay Shrimanker, CPA, Founder & CEO of Shay CPA P.C.
One of the most rewarding parts of my work is meeting founders who have already built successful businesses in their home markets and are now preparing for one of the biggest milestones in their company’s journey: expanding into the United States.
This year, I’m proud to continue supporting the International Landing Pad Network (ILPN), an initiative led by the New York City Economic Development Corporation (NYCEDC) in partnership with SOSA. The program helps high-growth international technology companies establish and scale their U.S. presence by connecting them with mentors, investors, customers, and experienced advisors.
As part of the program, I had the opportunity to mentor founders on one area that often receives less attention than fundraising or go-to-market strategy: building the accounting and tax foundation that supports long-term growth.
U.S. expansion starts long before your first customer
One misconception I often see is that establishing a U.S. company is something founders can simply check off a list and come back to later.
Many companies will travel to the U.S., incorporate a Delaware entity, open a bank account, and then return home while they continue building the business. Months or even years later, when they’re ready to hire employees or launch their U.S. go-to-market strategy, they discover they’ve inherited a compliance problem.
Even if the U.S. entity has remained relatively dormant, filing obligations often still exist. Missing information returns, Form 5472 reporting, foreign ownership disclosures, or subsidiary reporting requirements can lead to unnecessary penalties and administrative headaches before the business has even begun operating at scale.
The U.S. entity may have been sitting on the shelf, but the compliance obligations haven’t.
Don’t wait until expansion is underway
Another pattern I’ve observed is that many international companies rely heavily on their finance team back in their home country during the early stages of expansion.
That approach is understandable. Those teams know the business better than anyone.
The challenge is that even excellent accountants in Europe, Asia, or elsewhere aren’t necessarily experts in U.S. tax compliance. As a result, U.S. accounting and tax considerations often become an afterthought rather than part of the expansion strategy from the beginning.
I’ve found that bringing experienced U.S. advisors into the conversation early is almost always less expensive than correcting issues after the company has already begun hiring, fundraising, or generating revenue.
Accounting should help companies grow
One point I emphasized throughout the ILPN program is that accounting isn’t simply about filing tax returns or checking compliance boxes.
At its core, accounting is about building the systems and processes that allow a business to grow.
When founders enter the U.S. market, their focus should be on getting their products and services into customers’ hands, generating revenue, and building a successful go-to-market organization. A strong accounting and finance foundation helps make that possible.
That foundation includes establishing reliable billing processes, producing accurate financial information, understanding revenue recognition, managing payroll, collecting customer payments, and planning for tax obligations before they become problems.
Just as importantly, having experienced advisors can help companies avoid common foot faults that slow momentum. Missing filing obligations, overlooking sales tax requirements, delaying transfer pricing documentation, or misunderstanding reporting requirements create distractions that consume valuable management time and resources.
In my experience, these issues don’t usually stop companies from succeeding. They simply make the journey harder than it needs to be.
The companies that scale most effectively are the ones that build the right financial infrastructure before it becomes urgent. When finance is organized, leadership can spend less time fixing yesterday’s problems and more time focusing on customers, hiring great people, and expanding into new markets.
That’s ultimately what good accounting should enable.
Why programs like ILPN matter
One reason I enjoy supporting programs like ILPN is that they connect founders with experienced advisors before problems arise.
Expanding into a new country isn’t just about opening an office or finding customers. It’s about understanding a new legal, tax, financial, and operational environment. Programs like ILPN give founders access to professionals across each of those disciplines while helping them become part of New York City’s innovation ecosystem.
It’s encouraging to see New York City continue investing in international entrepreneurs. These companies bring new ideas, create jobs, and strengthen one of the world’s most vibrant technology communities.
Looking ahead
Congratulations to this year’s ILPN cohort:
It was a privilege to spend time with this year’s founders, and I’m excited to continue supporting the program as these companies establish and grow their U.S. presence.
International expansion presents tremendous opportunities, but success rarely comes from getting one big decision right. More often, it’s the result of making many thoughtful decisions early, building the right foundation, and giving your team the structure to focus on what matters most: serving customers and growing the business.
Disclaimer:
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